Voltalia SA (FR:VLTSA)
:VLTSA
Want to see FR:VLTSA full AI Analyst Report?
Top Page
Voltalia
(VLTSA)
Select Model
Select Model
Rating:45Neutral
Price Target:
€7.00
▲(0.43% Upside)
Action:Reiterated
Date:05/19/26
The score is held down primarily by weakening financial performance—widening losses, higher leverage, and persistently negative free cash flow—despite continued revenue growth and positive EBITDA. Technicals provide only moderate support (price above key moving averages but soft momentum), while valuation is constrained by a negative P/E that reflects ongoing losses.
Positive Factors
Integrated business model
Voltalia's vertically integrated model—owning generation assets while offering development, EPC and O&M services—creates diversified, complementary revenue streams. Long-term PPAs and recurring service fees provide structural cash stability and let the firm capture value at multiple project stages, reducing reliance on single revenue sources and lowering execution risk over time.
Negative Factors
High leverage
Leverage at roughly 2.61x with rising debt and falling equity materially reduces financial flexibility. High indebtedness increases sensitivity to interest rates and cash-flow volatility, raises refinancing risk, and limits the company's ability to fund new projects internally without dilutive or costly external financing, constraining long‑term growth optionality.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated business model
Voltalia's vertically integrated model—owning generation assets while offering development, EPC and O&M services—creates diversified, complementary revenue streams. Long-term PPAs and recurring service fees provide structural cash stability and let the firm capture value at multiple project stages, reducing reliance on single revenue sources and lowering execution risk over time.
Read all positive factors
Voltalia (VLTSA) vs. iShares MSCI France ETF (EWQ)
Market Cap
€1.01B
Dividend YieldN/A
Average Volume (3M)105.11K
Price to Earnings (P/E)―
Beta (1Y)0.63
Revenue Growth7.53%
EPS Growth-511.50%
CountryFR
Employees2,030
SectorGeneral
Sector StrengthN/A
IndustryRenewable Utilities
Share Statistics
EPS (TTM)-0.97
Shares Outstanding131,318,710
10 Day Avg. Volume83,079
30 Day Avg. Volume105,108
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)1.07
Price to Sales (P/S)1.74
P/FCF Ratio-3.87
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€9.00Price Target Upside29.12% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.16
Revenue Forecast (FY)€608.38M
Voltalia Business Overview & Revenue Model
Company Description
Voltalia SA engages in the production of electricity from renewable energy sources. It operates through two segments, Energy Sales and Services. The company develops, constructs, operates, and maintains wind, solar, hydro, and biomass power plants...
How the Company Makes Money
Voltalia makes money through two main avenues: (1) electricity generation from assets it owns/operates and (2) services delivered to third parties. For generation, it earns revenue by selling the electricity produced by its renewable plants, typic...
Voltalia Earnings Call Summary
Earnings Call Date:Sep 04, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Sep 03, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted Voltalia's strategic transformation plan aimed at self-financed growth and increasing capacity, alongside maintaining a strong cash position. However, the company is facing profitability pressures with reported losses, challenges with curtailment, and negative EBITDA from service activities. Despite future objectives being set, the expectation of further losses in the second half of 2025 presents a challenging outlook.Positive Updates
Capacity and Production Growth
Voltalia reported an increase in capacity in operation and construction to 3.3 gigawatts, a 7% rise from last year, with production growing by 14% to reach 2.4 terawatt-hours.
Negative Updates
Profitability Pressure and Loss
Voltalia reported a loss of EUR 40 million for the half year, with EBITDA remaining stable at EUR 78 million. Profitability remains under pressure with significant noncurrent expenses and financial results decreasing by 7%.
Read all updates
Q2-2025 Updates
Positive
Negative
Capacity and Production Growth
Voltalia reported an increase in capacity in operation and construction to 3.3 gigawatts, a 7% rise from last year, with production growing by 14% to reach 2.4 terawatt-hours.
Read all positive updates
Company Guidance
During the call, Voltalia provided guidance for its 2025 fiscal year, outlining several key metrics and strategic initiatives. The company reported a 7% increase in capacity, totaling 3.3 gigawatts, and an 8% rise in turnover to EUR 257 million, although EBITDA remained stable at EUR 78 million, resulting in a loss of EUR 40 million. Voltalia is embarking on a 5-year strategic plan called SPRING, aiming for self-financed growth of 300 to 400 megawatts annually until 2030. The plan focuses on improving profitability, with an EBITDA target of EUR 200 million to EUR 220 million by year-end 2025. The company plans to concentrate on core geographies and technologies, such as solar, onshore wind, and storage, while exiting noncore activities. Additionally, Voltalia aims to streamline operations to achieve an EBITDA margin of 70-72% in energy sales and 9-11% in services by 2030, with a net debt-to-EBITDA ratio target of 7.5x to 8x by the same year. The company also anticipates resuming dividend payments in 2028.Voltalia Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
35
Negative
Cash Flow
28
Negative
| Breakdown | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 588.00M | 547.00M | 495.18M | 465.94M | 358.67M |
| Gross Profit | 244.00M | 490.00M | 424.18M | 96.59M | 78.77M |
| EBITDA | 165.00M | 235.00M | 249.00M | 153.56M | 129.61M |
| Net Income | -128.00M | -21.00M | 29.63M | -7.17M | -1.32M |
Balance Sheet | |||||
| Total Assets | 4.19B | 3.96B | 3.82B | 3.04B | 2.11B |
| Cash, Cash Equivalents and Short-Term Investments | 315.00M | 391.00M | 318.55M | 383.56M | 302.20M |
| Total Debt | 2.49B | 2.26B | 1.86B | 1.31B | 1.03B |
| Total Liabilities | 3.13B | 2.79B | 2.43B | 1.70B | 1.38B |
| Stockholders Equity | 954.00M | 1.06B | 1.26B | 1.23B | 671.80M |
Cash Flow | |||||
| Free Cash Flow | -264.00M | -338.00M | -578.68M | -557.34M | -306.09M |
| Operating Cash Flow | 51.00M | 179.00M | 115.50M | -13.93M | 100.21M |
| Investing Cash Flow | -458.00M | -440.00M | -682.11M | -536.39M | -300.56M |
| Financing Cash Flow | 374.00M | 329.00M | 495.63M | 614.22M | 268.13M |
Voltalia Technical Analysis
Positive
6.97
Price Trends
6.91
Positive
7.10
Positive
7.15
Positive
Market Momentum
0.08
Negative
61.91
Neutral
45.53
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:VLTSA, the sentiment is Positive. The current price of 6.97 is below the 20-day moving average (MA) of 7.10, above the 50-day MA of 6.91, and below the 200-day MA of 7.15, indicating a bullish trend. The MACD of 0.08 indicates Negative momentum. The RSI at 61.91 is Neutral, neither overbought nor oversold. The STOCH value of 45.53 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FR:VLTSA.
Voltalia Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | €1.73B | 8.40 | ― | 6.15% | -11.62% | 5.03% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | €56.53M | 14.74 | -14.33% | ― | -91.03% | 47.04% | |
45 Neutral | €1.01B | -2.90 | -3.36% | ― | 7.53% | -511.50% | |
42 Neutral | €108.89M | -2.69 | ― | ― | 91.61% | -74.56% |
* General Sector Average
FR:VLTSA
Voltalia
7.67
-0.55
-6.75%
FR:HDF
Hydrogene de France
3.85
-1.14
-22.79%
FR:MLCMG
CMG CleanTech SA
0.22
-0.68
-75.42%
FR:MLBSP
Blue Shark Power System SA
3.40
-3.45
-50.36%
FR:ELEC
Electricite de Strasbourg SA
241.50
109.58
83.07%
FR:LHYFE
Lhyfe SA
2.27
-0.98
-30.09%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.